The Racial Wealth Gap and The Legacy of Racially Restrictive Housing Covenants
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Penn collection
The Wharton School::Wharton Pension Research Council::Wharton Pension Research Council Working Papers
Degree type
Discipline
Economics
Subject
Wealth inequality
racial discrimination
housing covenant
barriers to home ownership
intergenerational wealth transfers
racial discrimination
housing covenant
barriers to home ownership
intergenerational wealth transfers
Funder
Grant number
Copyright date
2023
Distributor
Related resources
Author
Santucci, Larry
Contributor
Abstract
One of the ways in which Black Americans were prevented from accumulating housing wealth during the 20th century was through the use of racially restrictive covenants. Recent research provides evidence that the current wealth distribution is influenced in part by historical inequalities in opportunities to create wealth. In Philadelphia and other US cities, racial covenants made it difficult for Black Americans to acquire homes, and affected both prices paid and returns to home ownership. Future research will assemble the data necessary to understand the long-run consequences of these barriers on the acquisition and intergenerational transmission of wealth in Philadelphia.
Advisor
Date Range for Data Collection (Start Date)
Date Range for Data Collection (End Date)
Digital Object Identifier
Series name and number
WP2023-17
Publication date
2023-09